The report, which was released at the India Retail Forum (IRF) in Mumbai today, mentions that India’s tier-II / tier-III cities will also be key contributors to the country’sretail growth going forward. The organized retail market is growing at CAGR of 20-25%.

“Nearly 100 million people out of India’s 300-400 million-strong middle class currently live in tier-II and tier-III cities,” says Anuj Kejriwal, MD & CEO – ANAROCK Retail. “This indicates that a significant portion of Indian retailers’ target clientele lives in the non-metro cities. In cities such as Jaipur and Surat,